Cazenove staff share record bonus pool

Staff at Cazenove, the UK stock broker, have shared a record bonus pool after a lucrative first year for their joint venture with US investment bank JP Morgan.

At least four senior salesmen were paid bonuses of more than £1m (€1.46m), according to sources, with compensation packages at the broker moving more into line with its US partner. Senior Cazenove investment bankers are said to have earned similar bonuses. A source said: "Several people's expectations were more than exceeded."